Mortgage Credit Certificate Program

Mortgage Credit Certificate ProgramFirst-time homebuyers may qualify for a statewide program that is making homeownership more affordable for many California families.

The Mortgage Credit Certificate (MCC) program, provided by the California Housing Finance Agency, potentially allows low to moderate income first-time homebuyers to convert a portion of their annual mortgage interest payment into a dollar-for-dollar tax credit on any liability they owe on their U.S. income tax returns.
Qualified participants can convert 20% of their annual mortgage interest payment as a dollar-for-dollar tax credit against the amount owed on their personal income tax, reducing federal income tax liability.

The program is available on a first-come, first-served basis. Ask your mortgage loan professional to find out if you are eligible to apply.

Restrictions are:

  • The MCC program applies only to new mortgages.
  • Buyers must fall within certain income limits, determined by county.
    • Buyers must be purchasing a home as a principal resident within the state of California.
    • Owner occupancy must take place within 60 days of closing the mortgage loan.
    • The sales price of the home must be less than the allowable sales price limits in the county of purchase.

To learn more about this and other mortgage assistance programs, please visit the CalHFA website.